sure it's legal. Their house, their rules. Sounds like this is a more upscale community. Why would they want to see some beat up old Storm with spotchy paint parked next to their Acura? You'd agree that they can prevent you from parking your UPS truck or your semi or your dump truck in their parking lot right? They can prevent you from parking anything they want. Hell they can close off the whole parking lot to any cars at all if they want.
The only question is, are you willing to do what's necessary in order to live there? If the apartments are as nice as you say then 1) you can probably afford to get a different car and 2) you can certainly afford to get a quick MAACO respray that will get you in the door.
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